Gold Soars to Record Highs in South Africa: What You Need to Know

Gold has reached unprecedented levels in South Africa, with the precious metal now trading at approximately R67,659 per ounce as of October 6, 2025.

For South Africans watching their savings and investments, these numbers tell a remarkable story of growth. Gold prices in rand terms have climbed steadily across every timeframe, offering a striking contrast to many other investment options.

The Numbers Behind the Surge

The rise has been consistent and substantial:

• One month ago (September 2025), gold was trading at around R63,543 per ounce, meaning today's price represents a 6.5% increase in just 30 days.

• One year ago (October 2024), the price stood at R46,655 per ounce. Today's price is 45% higher, reflecting extraordinary year-on-year growth.

• Looking back five years to October 2020, when gold was R31,118 per ounce, the increase is even more dramatic: 117.4%, more than doubling in value.

  
  

What's Driving the Price?

Two key factors are at play in determining the rand price of gold. First, the international dollar price of gold has surged past $3,900 per ounce, continuing its upward trajectory from $2,650 a year ago and $1,875 five years ago. Second, the exchange rate between the US dollar and the South African rand currently sits at around R17.25 to the dollar, which amplifies these gains for South African holders.

What This Means for You

These figures represent the spot price for investment-grade gold bullion. If you're looking at jewelry, scrap gold, or coins, remember that actual prices will vary based on purity levels and local dealer premiums or discounts.

For South Africans considering gold as part of their investment strategy, or those who already hold gold assets, these record levels represent a significant milestone. Whether this upward trend continues remains to be seen, but the five-year trajectory shows gold has served as a robust store of value through various economic conditions.

As always with investments, past performance doesn't guarantee future results, but gold's recent track record in rand terms has been notably strong.